We have featured the paper by Dr. Richard Werner and the power of banks to create money out of thin air, and interest has been stirred, but not all our readers are familiar with the discipline and its terminology in which the discussion is taking place. In the following, the wording has not been changed from the original but certain portions have been ‘cherry-picked’ in order to make clearer. Emphasis has been added throughout.

Abstract 1. Introduction Thanks to the recent banking crises interest has grown in the details of how banks operate. In recent decades, the empirical and institutional micro-structure of how banks operate had not been a primary focus of attention by investigators. This lack of interest may partly be due to the predominance of the hypothetico-deductive* research methodology in economics, which begins by posing axioms and assumptions. Such a theoretical and hypothetical framework has also been the basis for bank regulations. As is well known to historians, reality may be less logical and rational than the designers of theoretical constructs may envisage. This is known in other areas of finance, where market and investor behaviour often does not conform to the precepts of theoretically posed ‘rational agents’. By contrast, an inductive approach begins by establishing the empirical facts.

writes Andrew Bolt on his Blog 11 May 2017. The headline reminded me of an article Ivor Benson wrote as former Rhodesian Front prime minister Ian Smith was fading from the limelight of world history. (It is as well that we remember Marxist Robert Mugabe took over the leadership of that little nation now known as Zimbabwe – and is still in power as the Marxists brought the nation and its people to their knees.)

“How else are we to explain the dazed incomprehension with which the rank and file members of the Rhodesian Front, even members of parliament, even cabinet ministers, looked on as one by one all those ‘evil geniuses’ of whom Harold Wilson was later to speak, genuine opponents of the socialist world revolution, were defamed, tricked, driven out of the party, or in some other way deprived of any influence?”

Why would a government chartered by constitution to protect the people be so reluctant for a Royal Commission into Australian banking when overwhelming public evidence suggest a pungent smell of endemic criminal corruption is abundant reflects vested political interest from the parliament of Australia.

The current federal budget 2017 discussions you may find the attached paper of interest.

We thank Betty Luks of Australian League of Rights presenting this paper to sosnews for our readers to review quoting - International Review of Financial Analysis published by Elsevier Inc of this paper were invited to present a submission to the Iceland government in the aftermath of the Banking collapses.

Aren’t you tired beyond belief of government’s annual “ritualised sermons, ceremonies and main prayer” (as The Australian editorial, 9 May 2017 puts it) as Budget time has once more come upon us? The Editorial reads:

“Budget set to bank our future on better growth”“It has become a ritual. We know the sermons, ceremonies and the main prayer. We put ourselves through it and we always hope for better. But we know that almost certainly we will return to the same rites and promises a year later when, again, we will have fallen short of expectations. So we will offer a similar prayer for the year after that.”

While we may all be sick and tired of the ‘guff’ the mainstream media continuously feeds to us it is way past time we took on our own responsibility for the state of affairs this nation is now labouring under. This website has more than enough information-–along with some important historical facts—on why we are in such a financial mess.

So please, don’t whinge about the state of the nation if you are not going to play your part in its redemption. First, study carefully the historical background of the banking system and grasp clearly why the banking system has such control over our nation’s financial affairs.

Taken from the original “Story of the Commonwealth Bank” by F.J. Amos, 9th edition:Read the full story by F.J. Amos here….https://alor.org/Library/Amos%20DJ%20-%20Commonwealth%20Bank.pdf Mr. Amos writes:

“The Story of the Commonwealth Bank” was originally delivered as a lecture before the Sturt Electoral Committee, Adelaide, and was first printed in pamphlet form in 1931. It exhibited the usual defect of all lectures, namely, condensation of the subject matter to an extreme degree. The great and unexpected demand which arose for the pamphlet found me so closely occupied in other work that the second and third editions had to be printed practically unaltered, and I began to be more and more sensible of the need for amplifications and additions.

Filming undercover in East Timor in 1993 I followed a landscape of crosses: great black crosses etched against the sky, crosses on peaks, crosses marching down the hillsides, crosses beside the road. They littered the earth and crowded the eye. The inscriptions on the crosses revealed the extinction of whole families, wiped out in the space of a year, a month, a day. Village after village stood as memorials.

Thanks for this letter written by John Seaton of Tasmania citing the “Alaska State Permanent Fund” from which regular annual Dividends have been paid to citizens of that American State and referring also to Norway’s “State Petroleum Fund”.

The Alaska Fund was created in 1976 by State Governor Jay Hammond with assistance from two Cabinet Ministers of the former “Social Credit” Government of the Canadian Province of Alberta. In Alberta the “Alberta Heritage Savings Trust Fund” was instituted in 1976 by the new Conservative Government of Premier Peter Lougheed which in 1971 had defeated the former “Social Credit” Government. (This latter term is used reservedly because during its long term of office from 1935 to 1971, having been initially obstructed by the Federal Government and betrayed internally at an early stage, it never implemented genuine Social Credit monetary policies.)

To the Herald Sun 4/5/17Fat cats need a diet As Australia's resources fat cats made the billionaires top 100 list again, I was reminded of Alaska which in 1976, nine years after oil was discovered, amended its Constitution to dedicate its yearly oil revenues, in part, to a state investment fund.Every person since 1982, a permanent fund dividend has been paid to every Alaskan men, woman and child in recognition of the ownership, in part, of its resources.From a 2008 high of $3269, in more recent years the PFD has been between $1000 and $1500 per person.

Similarly, following Norway's discovery of North Sea oil, Norway created the State Petroleum Fund in 1990. A substantial amount of oil profits, viewed as belonging to all Norwegians, has created a found balance of almost $60 billion. Unlike Alaska, however, always priority is to find community-wide benefits.Norway has a steady growth rate, almost no poverty, free health, free education (at all levels) and negligible unemployment. Workers enjoy eight weeks paid leave, liberal sick leave, three-year maternity leave and reliable and inexpensive day care. Creative part-time and tell communicating opportunities help keep women in the workforce.Sadly, I don't see the income from Australia's resources providing the same benefits – it just seems to be making the fat cats fatter.John Seaton, Prospect Vale, Tas.

Taken from Charles Ferguson’s “The Affirmative Intellect” (1901)“The history of the world is a struggle—on the whole a successful struggle—of the creative intellect against the terror and the discouragement of the external law. It is the progressive endeavour of the human spirit to make itself at home in the universe, and to fashion the stubborn things of Nature according to the uses of the soul.

The central drama of history is Christianity, which is in its broadest aspect simply the attempt to supersede the old world social order, governed by an external authority and the prepossessions of the passive intellect, by a new world-order governed by an internal authority—the faith of the affirmative spirit.

This article stemmed from reading a paper written by an Indian chap on a proposal for a National Dividend for India. An excellent paper, it has just one small historical error: from his readings, the chap believed that A.R. Orage coined the term ‘social credit’ which was published in an edition of 'The New Age'. Historically, this was not so, and historical accuracy is important, so this error will be corrected.But it did send me back to Charles Ferguson’s 'The Great News' (1915).

Fellow American Michael Lane researched the life of Charles Ferguson, originally published in Triumph of the Past January to June, 2002 and republished by the Australian Heritage Society as 'Charles Ferguson: Herald of Social Credit'.Bill Daly of the New Zealand League of Rights wrote an Introduction to Michael Lane’s book and had this to say:

Ref: http://www.alor.org/NewTimes%20Survey/Myths%20Legends%20and%20Spiritual%20Survival.htmI recently came upon a copy of Sir Edward “Weary” Dunlop’s “War Diaries” published forty years after WWII. Sir Edward was one of Australia’s great heroes. In the foreword British officer, Colonel Sir Laurens van der Post wrote of his brief experiences with the American and Australian soldiers of war, along with the British, in the early days of the Japanese internment and he described prison life as “the war within the War”.

For the first three months and under the inspired leadership of (then) Lieutenant-Colonel Edward Dunlop, an all out effort was made to not only invest the resources available to them for “the physical well being” of the men, and to unite them as of the British-Commonwealth, but a “vast educational system was set up” to cater for their mental and spiritual well being. To aid in their “physical survival and spiritual sanity”, the officers set up schools, classes and lectures, even a microcosm of a *Commonwealth parliament in prison.

In this book review of M. Oliver Heydorn’s book “Social Credit Economics”, Arindam Basu noted:

“As befits his Catholic background, Dr. Heydorn occasionally stresses the Christian philosophy underlying Social Credit. However, as David Astle has shown in his classic work, “The Babylonian Woe”, the battle between the money power and mankind long predates the advent of Christianity. Indeed, it is but one theatre of the age-old struggle between centralization and decentralization, subversion and tradition, monotheism and polytheism, - and in the final analysis, subservience and independence.Or as Lord Acton put it:“The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks.”Seen from this perspective, Social Credit Economics is a most valuable weapon in the people’s arsenal.”

On 27 March 2017, ABC News reported:“In 2014, 12 financial institutions signed up to build the NPP, (New Payment Platform…ed) partly as a way of bringing Australia up to speed with other countries that are ahead in the race to becoming completely cashless.Sweden is on track to become the world’s first completely cashless economy, and just last November India got rid of its highest denomination bills, effectively eliminating 90 per cent of its paper money. Professor Holden estimates Australia could be cash free as early as 2020…”

Am I the only one who sees the centralizing dangers in Australia becoming ‘a cashless society’ under the present financial policies? According to Michael Edwards on ABC AM, 27 March 2017:“The Reserve Bank is introducing new technology this year which will push Australia even further towards being a cashless society.Later this year the bank will roll out a new system called the New Payment Platform (NPP). The NPP will mean money can be transferred almost instantaneously, even when the payer and payee are members of different banks. (Please note this sentence is about ‘credit’ – not physical money. That is, ‘money’ in the form of ‘blips on a computer’.)

It was in 1926 that C.H. Douglas first wrote, “In war-time, therefore, civilisation does not fail. It is in peace time that it fails.” That statement was repeated in August 1940 - found here http://www.alor.org/The%20Social%20Crediter/Volume%204/The%20Social%20Crediter%20Vol%204%20No%2021%20August%203%201940.pdf)

As the world forces bring us once more to the brink of war, this time a devastating nuclear war, it is worth considering his message written so long ago:

“In the event of a nuclear war, there will be no chances, there will be no survivors – all will be obliterated… nuclear devastation is not science fiction – it is a matter of fact. The world now stands on the brink of the final abyss. Let us all resolve to take all possible practical steps to ensure that we do not, through our own folly, go over the edge.” Former First Sea Lord, Lord Louis Mountbatten (1900-1979) Strasbourg, 11 May 1979.”

Amongst the more repellent forms of bilge with which the Socialist era is connected, is its claim to represent “Service, not Self.”

We neither forget nor overlook such men as Maurice, Kingsley, Ruskin, and with certain reservations, Keir Hardie. They were good and great men, and their fatal defect (much more fatal than culpable) was that they did not understand the problem with which they wished to deal.

Psychology Professor Dr. Jordan B. Peterson explains how the archetype of the wise king helps you to become a functional adult. He asks: Why are today’s young people starving for responsibility?

“The good is the opposite of evil. The good is what you would want for yourself, for your loved ones...If you’re aiming at the good then you want what is good for you, and I mean what is good for you as if you were taking care of yourself. Good to yourself and treating yourself like someone you love. That is, good for you in a way that is good for your family, and then what is good for you and your family that is also good for society and then it would be good for you and your family and society in a way that would be good for the world. And then it would be good now, and it would be good next week and the week after and a year from now and then long into the future that you can see…”Jordan Peterson - The Good Father Helps You to Become Your Best Self https://www.youtube.com/watch?v=JA5iEKvHNxk

“He who would do good to others must do it in Minute Particulars. General Good is the plea of the scoundrel, the hypocrite, and the flatterer. For Art and Science cannot exist but in minutely organised Particulars and not generalising Demonstrations of Rational Power.”- William Blake

Thanks to modern technology and the moral courage of the Canadian professor, Jordan B. Peterson, who, armed with a clear understanding of the psychological warfare being waged upon the western world, has brought it all to an interested public’s attention.

Login

THE LEAGUE’S FREEDOM CAMPAIGN

No political movement can exist in a moral vacuum, and Australians have traditionally accepted that it is the Christian Faith that generated our heritage of representative government. While the League maintains a small full-time staff primarily motivated by Christian service, it is the extensive network of volunteers from all walks of life who form the backbone of the Movement.

The League of Rights seeks to help create a body of dedicated men and women who serve not for their own material gain, but as custodians of those truths and values which must form the basis of all successful efforts to defeat the enemies of human dignity and freedom.

The League encourages and equips individuals to independently exercise their own initiative in the service of freedom.